Frank Downing, the director of Research for Next Generation Internet at Cathie Wood-led Ark Investment Management, addressed concerns about the impact of artificial intelligence on employment. What Happened: In a video posted on social media on Wednesday, Downing responded to the question, “Will Generative AI take all of our jobs?” He drew a parallel between generative AI and the assembly line, a pivotal innovation in 1913 by Ford Motor Co. Downing said that the introduction of the assembly line led to a reduction in the average workweek and an increase in GDP per capita, rather than mass unem…
